During the fourth quarter of 2019, the year-over-year growth of Spanish GDP decreased to 1.78%. In the labor market, the unemployment rate decelerated by 0.14 p.p. compared to the previous quarter, down to 13.78%. On the other hand, employment registered a year-over-year growth of 2.05% during this quarter, which was 0.28 p.p. higher than in 3Q19. In terms of prices, inflation stood at 0.44%, after a quarterly increment of 0.13 p.p. Regarding the exchange rate, the euro remained constant against the dollar in 4Q19, standing at an average rate of 1.11 $/€.
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